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The results of the Brihanmumbai Municipal Corporation (BMC) elections will be declared on Friday, January 16, 2026. Ahead of the outcome, affidavits filed by candidates have brought the focus back on crorepati contestants, with asset disclosures revealing significant wealth among several key players.

At the top of the list is BJP leader Makrand Narvekar, brother of Maharashtra Assembly Speaker Rahul Narvekar. The 47-year-old, a lawyer by profession and a two-time corporator, has declared assets worth ₹124 crore in his affidavit. A comparison with earlier elections shows a sharp surge in his wealth over the years.

Makrand Narvekar Tops the Rich List

According to the affidavits, Makrand Narvekar’s declared assets stood at ₹3.67 crore in 2012, rose to ₹6.32 crore in 2017, and have now jumped to ₹124 crore in 2026. The affidavit also states that between October 2022 and November 2025, he purchased 27 land parcels in Alibaug. Narvekar has attributed the rise in the value of these properties to major infrastructure projects such as the Atal Setu (Mumbai Trans Harbour Link) and the roll-on roll-off ferry service.

35% of BMC Candidates Are Crorepatis

Makrand Narvekar is not alone. Around 35 per cent of candidates contesting the BMC elections have declared assets worth over ₹1 crore. Among them is Ward 225 candidate Harshita Narvekar, who has reported assets of ₹63.62 crore, up from ₹10.74 crore in 2017. She is Makrand Narvekar’s sister-in-law.

The list also includes Samajwadi Party candidate Sana Abbas Qureshi from Kalina, who has declared assets worth ₹60.3 crore, making her one of the richest women candidates in the BMC elections. Samadhan Sarvankar, son of former MLA Sada Sarvankar, has reported assets of ₹46.59 crore, compared to ₹9.43 crore in 2017. Former mayor Kishori Pednekar has declared assets worth ₹5.26 crore, up from ₹1.61 crore in 2017, marking an increase of about ₹3.65 crore over eight years. Yamini Jadhav from Ward No. 209 has reported assets worth ₹14.57 crore.

Former Mayors and Modest Candidates

Priya Sarvankar, contesting from Dadar Shivaji Park, has declared assets of ₹12.16 crore. Former Shiv Sena mayor Shraddha Jadhav, who served as Mumbai’s mayor from 2009 to 2012, has reported assets worth ₹46.34 crore.

Alongside these high-value declarations, the affidavits also reflect sharp contrasts. Independent candidate Ashok Gupta from Bandra, who runs a paan shop, has declared assets worth ₹1.6 crore, including an SRA house, savings and his wife’s jewellery, underscoring the wide economic range of candidates in the BMC elections.